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India’s economic trajectory, as outlined by Finance Minister Nirmala Sitharaman, paints a picture of resilience and potential amidst global uncertainties.
Share price of Shipping Corporation of India Ltd was trading over 15 per cent on Tuesday after the government received multiple bids for the privatisation of the company.
At 1.46 p.m., its shares on the BSE were trading at Rs 119.25, up by 15.00 per cent. Earlier in the day, the scrip had hit a 52-week high after it surged over 19 per cent to Rs 123.55.
Similarly on the NSE, company’s stocks were trading 15.04 per cent higher at Rs 119.35.
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Earlier in the day, the stock touched the mark of Rs 123.5, after it rose 19.03 per cent.
Department of Investment and Public Asset Managment (DIPAM) Secretary Tuhin Kanta Pandey on Monday said that multiple Expressions of Interest (EoIs) have been received for privatisation of Shipping Corp.
In December, the government invited EoIs for strategic disinvestment of its entire stake of 63.75 per cent in Shipping Corp along with the transfer of management.
The last date for submitting the bids was February 13, which was later extended to March 1.
The government expects to complete the privatisation in the coming financial year. Presenting the Union Budget for FY22, Finance Minister Nirmala Sitharaman had said that all the announced disinvestment processes will be completed during the upcoming fiscal.
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